Juniper Research forecasts that the number of connected IoT (Internet of Things) devices, sensors and actuators will reach over 46 billion in 2021. This 200% increase, from 2016, will be driven in large part by a reduction in the unit costs of hardware. Juniper forecasts that it will average close to the ‘magic’ $1 throughout the period. It was found that industrial and public services will post the highest growth over the forecast period, averaging over 24% annually.